Topic: suggestions request about trading (Read 264 times)

You shouldn't just jump into funding you definitely need a good knowledge about trading before considering trading with any exchange yet you should first tryout with demo account you need to do lots of practice on a demo account try finding out your limitations get grounded in trading for a while before going live

Get the knowledge, develop on it do enough research and you would have all the answers you need about exchanges and which would suit the  trading fee you seek

This seem like you have sorted yourself out on trying to learn how to thread since the thread is more than a year and no contribution going on since then till it is now revisited.. If you have got your question raised and having good results, you may consider locking this thread up to avoid unnecessary replies and spamming, except you are leaving it open to because you need response then you can say something new that you are facing for direction to you.

it's not a big problem mate, because as the matter of fact there's a lot of information around the internet and at the same time you can obtain specific information if it's legit or not as well , just make simple research and put efforts if you're seeking for more information .
And by the way my concern here is it's because you're a newbie and for sure you don't have any experience about trading.  Just a friendly reminder practice your skills first with demo account, because its not a safe move to trade without any experience and it's like you're dashing money to someone without any change. Lol
so be careful mate., i mean don't worry about how you can tranfer money to exchanges because its so easy to be honest, unlike when you're already at the trading field that you need enough knowledge in order to succeed.. So make it as a priority instead.  

If you are a newbie in trading then you should learn the trading skills first and then you have to go into the trading, as we have seen many of the trader i mean newbies who didn't know how to trade and then get into the trading with having no chance of getting profit, they had made many losses without knowing trading basic skills.

About suggestion requesting for you go any future to consider using a demo account. if you want to say then you need to deposit your coin. one and exchange and trade it other coin .however when you hold a coin for a long time
.you may also make some if the price of the coin appreciate then it will be easy for you to understand it easily with weathering experience I would suggest you make use to them.

well ..
I agree, so it's better to pay a price that is a little high and can provide a guarantee of security. rather than paying with cheap liquidity but that doesn't guarantee any security.

Indeed, sometimes we need to be realistic in choosing and sorting out exchanges, because trading is not only short-term, but it needs to be carefully thought out for its sustainability in the future.

That apart from demo, remember demo trading and trading live are not exactly the same. If a trader has made profit in demo , they can lose it in trading live and the same for the other side. I will suggest here that you can start small in live trading and also grow your account and as time progress you can build confidence in trading live.

Trading is the best platform if you can make it enjoyable. Dude, you must have enough knowledge about trading with experience. Thinking you are newbie in trading, so you have to gather some knowledge and experience. To acquire those, you can go for demo trading sites and spend time to know about deeply. Then it will be easy for you to understand it easily with gathering experience.

Well don't let you chasing after lower service fees make you gullible to scammers with their new scammy exchange offering outrageous low fees just to attract victims to scam. If you have an exchange that has all you want with very big reputation and liquidity and their fees are quite decent even though they're a little bit higher that other exchanges I would suggest you make used of them.

There are many exchange out there but I would suggest you go with binance exchange, it has all you need in a decent exchange. And their service fees are quite affordable, they also offer various fiats deposit option and stablecoin you can use to book your profit which is very important for bearish scenario in the market.

Before all those you should practice your trading strategy and perfect them in demo exchange as others have suggested. Trading isn't something you reach into therefore you should take your time in make sure you have gotten the basic knowledge to outsmart the market.

nowadays a lot of crypto exchanges offer demo trade. you can do demo trade here:
https://demo.hitbtc.com/
https://testnet.bybit.com/trade/inverse/BTCUSD
https://go.etoro.com/en/practice-account
https://testnet.bitmex.com/
https://nominex.io/

Correct, but there's other way to trade not only on an exchanges, you can buy through peoples too.

Here's the list of all crypto exchanges https://www.cryptowisser.com/exchanges/ you can see which exchange offer the lowest fee by sort on Max fee But you need to be careful before use an exchange, basically if you send your coins to them, you're trusting your coin on them too. If they're scam, they can took your coin away. I'd suggest to use Binance or Kucoin since the fee are much low and popular.

Correct, it's just repetition on your first question

I agree on this, Binance has a low % of fee and you can deposit fiat on it as long as they are supporting it. And that means, you don't need bitcoin to deposit for you to start trading. Check their list of supported fiat deposits.

https://www.binance.com/en/support/articles/2195b2db3324477ca914162e7369db5e

You may check this link from them too.

https://www.binance.com/en/buy-sell-crypto

First, I will advice before you go any further to consider using a demo account. I will suggest https://demo.hitbtc.com/ for you. Back to your questions. If you want to trade then you need to deposit your coin on an exchange and trade it with other coin. However, when you hold a coin for a long time, you may also make some profit if the price of the coin appreciate. There are 2 major fee that are being paid in any exchange. First, the trading fee and also the withdrawal fee. The withdrawal fee are most time fixed and are charge by the coin you are trying to withdraw. From my experience, Binance has the lowest withdrawal fee for Bitcoin. When you are trading, a trading fee is also charge but this is very small compare to the withdrawal fee. Sometime you can get lower trading fee when you intend to pay the fee with an utility token of the exchange platform

Could you please tell me a name of one of these platforms please?

Yes the only way is to deposit it in exchange if you want to use your Bitcoin to trading. For widrawal fees you can use other altcoin instead of Bitcoin if you want to only pay lower fees for widrawing  you balance. Exchange has fixed rate in bitcoin widrawal option from 0.001-0.0004 around that amount before you can widraw your balance.


May I know how much capital you want to use to start trading?

Thanks a lot, you've been very clear, it's exactly what I wanted to know

First if all, what is trading? It means exchanging one item to another. So, what is crypto trading? It means exchanging from one coin to another. Also exchanging from crypto to fiat is another form of trading. According to your question, if you want to trade, you will need to purchase Bitcoin or any other cryptocurrency purchasable. You can purchase Bitcoin through exchanges or through someone you can trust. If you want to use exchanges to purchase Bitcoin or other cryptocurrencies of your choice, you will be charged a fee for buying. Also, if you sell Bitcoin or any other crypto and want to withdraw, you will pay certain amount of fee. Also, if you are trading, you will be charged fee for each trade you make. That is just trading, but many traders did all these and still gain, but traders that are not expert just lose the more. If you can learn more about trading, and able to make profit, you will later realize that you can still make profit but require experience and discipline.

Binance is the best I have used. Binance change low fee (0.1%) for trading while binance withdrawal fee is also low. You can use binance to buy directly from your bank if your country support the exchange, in which the fee will also be low.

Yes, you need to send the bitcoin to exchange like binance to begin trading.

But, remember not your key not your coin. These exchanges do not give you private key, then they have full control over the coins because they have the private key, not you. Also is the issue of exchanges being hacked, if not using your funds, send it all back to your noncustodial wallet.

My friend, if you want to trade do it with demo funds. There are a lot of platforms out there that offer you free demo accounts so you can practice your trading skills with real live data.
If you are willing to trade with an amount that you think will be affected by the withdrawal fees, you should get a normal job until you build a decent account for trading.

I recommend to start trading only when you have been consistently profitable on a demo account for a few months. The markets will always be there.

Hello,

I'm a newbie ( still), I'm trying to learn...I'd like to be able to make small revenues by trading but seems a long way. From what I understood, the only way to trade is to but or deposit BTC on an exchange account, is that correct? But I noticed that they have fees both for buying and withdrawing. So unless I do a great deal there is more a loss than a gain. Do you know an exchange where fees are low?
If I I have a small amount on a electrum wallet, the only way to trade this amount is to deposit it in an exchange, is that correct?

Thank you, sorry for my questions.